Hello TradingView Family / Fellow Traders,
Based on my recent BTC analysis (attached on the chart), we anticipated a rejection from the blue circle zone, as it is the intersection of the lower bound of the channel and the 40,000 round number.
Now, what's next?
📈 For the bulls to remain in control and take over from a medium-term perspective again, we need an H4 candle close above the last major high marked in orange at 43,550.
In this case, a movement to the 48,000 resistance would be expected.
📉 Meanwhile, BTC would be stuck inside a range, but the bulls will remain in control as long as the 40,000 level holds.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Based on my recent BTC analysis (attached on the chart), we anticipated a rejection from the blue circle zone, as it is the intersection of the lower bound of the channel and the 40,000 round number.
Now, what's next?
📈 For the bulls to remain in control and take over from a medium-term perspective again, we need an H4 candle close above the last major high marked in orange at 43,550.
In this case, a movement to the 48,000 resistance would be expected.
📉 Meanwhile, BTC would be stuck inside a range, but the bulls will remain in control as long as the 40,000 level holds.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr